The three companies specializing in the compulsory insurance and disability from accidents and occupational diseases, by December 1, collected 28.6 million manat of premiums (+3.6% to the same period last year).
The spokesman of Azerbaijan Insurance Association Vafa Rustamova told Turan it is a little more than a quarter (27.1%) of the life insurance market. Payments in this segment are at the level of 2 million manat (minus 2.5%).
The ratio of benefits to premiums is 7%, which is an extremely low figure.
The law "On compulsory insurance of disability of individuals from accidents and occupational diseases" came into force on December 16, 2010 after the approval of several legal acts by the Ministry of Finance.
Recall, the life insurance market has three operating companies, PASHA Hayat Sigorta, Ateshgah Hayat Sigorta and Qalahayat Sigorta. -17D-
Economics
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Elon Musk, co-chair of the U.S. Department of Government Efficiency (DOGE), has outlined a strategy to bring inflation in the United States down to zero by 2026 through aggressive cuts in federal spending. Musk’s plan, which aims to reduce approximately $4 billion in projected daily expenditures, is designed to shrink the federal deficit to $1 trillion by 2026. While the deficit would still be substantial, Musk argues that accelerated economic growth could offset inflationary pressures, ultimately stabilizing the economy.
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The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas projects in the Mediterranean, SOCAR said in a statement on Wednesday.projects in the Mediterranean, SOCAR said in a statement on Wednesday.
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On January 30, Azerbaijani President Ilham Aliyev has signed a decree approving the State Program for the Improvement of Transport Infrastructure in Baku and Surrounding Areas for 2025-2030, aiming to modernize the capital’s urban mobility and reduce congestion, the presidential press service said on Tuesday.
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Goldman Sachs has revised its oil price forecasts, raising its projections for Brent and Azeri Light crude by $2 per barrel for both 2025 and 2026, setting the estimate at $78 per barrel. The adjustment reflects expectations of tighter supply conditions driven by geopolitical risks, including U.S. sanctions affecting Russian oil production and potential future restrictions on Iranian crude exports.
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